was one of the stock market's best performers for a second consecutive session, rising 19% after soaring more than 350% in its debut Friday.
Shares of the Chinese search engine were recently up $23.26 to $145.80. Baidu priced 4 million shares at $27 Thursday night and had the best first-day performance of any IPO since late 1999, pushed higher by momentum traders who turned over the public float more than five times on Friday. The stock traded more than 8 million shares in the first 90 minutes of trading Monday. Contributing to the strength was a report by
is in advanced talks to spend $1 billion on a 35% stake in Chinese auction and trading site owner Alibaba.com.
rose 14% Monday after agreeing to be acquired by
in a deal worth $934 million. Quest will pay $43.90 in cash for each LabOne share, a roughly 16% premium to Friday's closing price. In recent trading, LabOne was up $5.16 to $42.80
Shares in most U.S. homebuilders extended their losses Monday as traders continued to worry about rising long-term interest rates. A strong July employment report and a corresponding rise in the 10-year bond sparked a flurry of selling Friday, knocking more than 5% off the Dow Jones U.S. Home Construction index. With the 10-year yield standing firm at 4.39% Monday,
was down another 3.5%, while
lost 2.7% and
gained 16% Monday after the drug marketer reported strong second-quarter earnings and announced an acquisition. On a continuing operations basis, Ventiv earned $9 million, or 32 cents a share, in the quarter, beating estimates by 7 cents. Revenue of $132 million was also well above forecasts. Ventiv, which guided full-year earnings higher, said it has acquired Pharmaceutical Resource, a privately held drug-services company based in Horsham, Pa. The stock was recently up $3.41 to $24.29.
Bally Total Fitness
slid after holders of two bond issues sent it default notices related to an earnings restatement. The company, which is in the process of restating fiscal years 2000 to 2004, has 30 days either to extend a waiver related to the bond issues or cure the default. Bally's accounting is the subject of a federal criminal investigation. Recently, the stock was down 46 cents, or 12.5%, to $3.20.
skyrocketed after the company reported a big jump in second-quarter revenue. The company, which sells services and materials to the construction industry, earned $1 million, or 25 cents a share, in the most recent quarter, up from $40,000, or 1 cent a share, last year. Revenue rose 22% from a year ago to $53.4 million. The company's backlog of construction services business was $62.5 million at the end of the quarter, down slightly from a year ago. Shares of Meadow Valley were recently up $3.01, or 47.5%, to $9.35.